Keurig Dr Pepper Inc. (NASDAQ: KDP) announced that its takeover offer for JDE Peet's N.V. (EURONEXT: JDEP) has been declared unconditional after 96.22% of shares were tendered during the offer period that expired March 27, 2026.

The offer, made through Kodiak BidCo B.V., received 466,712,270 shares representing an aggregate value of €14.86 billion. Settlement is scheduled for April 1, 2026, when payment will be made for tendered shares.

Following settlement, Keurig Dr Pepper will hold approximately 96.22% of JDE Peet's shares. The companies plan to proceed with delisting JDE Peet's shares from Euronext Amsterdam as soon as possible under applicable rules.

Shareholders who did not tender during the initial offer period can participate in a post-closing acceptance period running from March 30 through April 13, 2026, under the same terms and conditions. Payment for shares tendered during this period will occur within five business days of the period's expiration.

After the post-closing period, Keurig Dr Pepper intends to initiate statutory buy-out proceedings for remaining shares and may implement a post-closing demerger as outlined in the offer memorandum.

JDE Peet's, described as the world's leading pure-play coffee company with presence in over 100 markets, generated total sales of €9.9 billion in 2025. Keurig Dr Pepper is a North American beverage company with annual revenue exceeding $16 billion and a portfolio of more than 125 brands.

The offer memorandum was approved by the Dutch Authority for the Financial Markets and dated January 15, 2026. Board composition changes approved at an extraordinary general meeting on March 2, 2026, will become effective upon settlement.